Coca-Cola to invest $60m in Ghana

By Edmund Mingle
The Coca Cola Company, the leading global beverage producer says it is set to invest over 60million dollars in its operations in the country, as well as support government’s initiatives to develop the beverage industry.

The company is currently investing about 30 million dollars in the establishment of a new factory in the Central Region for the production of juice and other beverages, after which it would invest another 31million dollars to expand its existing operational structures in the country.

Curts Ferguson, Head of North-West Africa for Coca Cola Equatorial Africa, who informed President John Evans Atta Mills of the of the company’s intentions when he led executives of the firm to call on the President at the Castle, Osu in Accra yesterday, said they were very committed to increasing their investments in Ghana.

“Ghana presents a huge potential for us to grow our beverage business,” he told journalists after the meeting with the President.

He said the company decided in branch into the production of other beverages such as pineapple juice in Ghana because the company, which is growing 10 per cent annually in Ghana, could rely on raw material supply in the country.

Mr. Ferguson, who is in charge 28 countries in northern and western Africa, was optimistic that the expansion of their production scale would create more jobs to complement government’s job creation efforts.

Already, he said the company’s decentralization of its product distribution structures, that has created over 130 distribution centres, particularly manned by women across the country, was part of measures to make the operation of the company more beneficial to Ghanaians.

He announced that the company would sponsor the 2010 World Cup Trophy Tour to Ghana on October 15 and 16, in which the cup would be taken through Ghana and other African countries.

President Mills, earlier commended the company for the investments in Ghana, and assured them of government’s commitment to ensure congenial business atmosphere and security of investment.

He said the government was happy that Coca Cola was branching into other areas of production using local raw material, saying it would enhance agriculture production, especially in the fruits sector.

Apart from the boost the company’s investment would give to the local economy, President Mills said it would further strengthen the ties between Ghana and the United States where the company has its headquarters.

The President urged investors to take advantage of investment opportunities in the country, and promised government’s continuous support and cooperation to ensure to ensure that their investment inure to the mutual benefit of Ghanaians.